E

E E-Business Essay School of Computing and Communications Spring 2010 32120 Introduction to e-Business Technology Assessment Item 2 Research Project - Report and Presentation WORTH: 30% (Research report 20% & presentation: 10%) Due date: 19 October 2010 OVERVIEW In groups of 2, select an industry you would like to concentrate your e-Business research report. In your research report and presentation you will detail how to get this business ready for ecommerce. You could look at either selling services or physical goods. Your selection could be based on an actual 'bricks-and-mortar' retail business that you know, or the business may already have an existing e-commerce website that you would like to improve or the business you have in your mind that you would like to work on. You can make up a business that does not exist. Prior to commencing your project please discuss it with your tutor in the earlier weeks. You will describe the model and strategies applied to make it a successful e-commerce business, addressing all the points listed below (in bold). You also need to provide the rationale behind your decisions. This can be partly based on the material from the textbook and classes (that still needs to be acknowledged) but you also need to conduct in-depth research using additional resources (books on e-commerce, journal articles, reports etc). The report and presentation need to cover: An overview of the industry and the company detailing the trends A description of key elements of the business model and strategy Details of the technology infrastructure chosen Decisions concerning payment systems and security Marketing strategies 32120 – Introduction to e-Business Technology 1|Page Please refer to the corresponding chapters in the textbook to see what concepts should be included within each topic. In your report you may use drawings and diagrams to illustrate some concepts, or you can create an actual website prototype and include the URL in your report. RESEARCH REPORT The report must be word processed and include a signed declaration that the work you are handing in is your own (group members). It is due on 19th October 2010 (Week 11). The soft copy should be submitted via email by 6 pm to your tutor (preferably designate one group member to submit the report, but please CC: the other team member). When emailing the assignment, please save the message in your Sent folder as a proof of submission in case it does not get through. You also need to hand in the hard copy of the research report to the tutor at the beginning of the Tutorial class. The copy must be identical to the soft copy submitted earlier. PRESENTATION You will need to present the main points of your research report to your tutorial group using a PowerPoint Presentation (15-20 minutes per presentation). Please remember that in this presentation you will be marked both on the content and on your presentation skills. Each team member must take part in the presentation. Your presentation should follow the headings of your report. Its aim is to demonstrate to your audience the decisions and strategies you chose, and the rationale behind them. You still need to use in-text references in the presentation (author, year), and include a list of e e-reader3 Essay 1. The British Parliament passed the Stamp Act in 1765 to meet the costs of army and the empire. It required formal documents such as bills, deeds, diplomas and newspapers to be stamped in order to make sure that the designated taxes were paid. 2. It raised questions about the limits and legitimacy of imperial rule. 3. The artisans and shop-keepers of Boston who were against the Stamp Act were known as the Loyal Nine or the Sons of Liberty. 4. The effigy was hanging with a boot along with a young impersonation of the Devil that was peeking out from the top. It had a label on its breast that read ‘In Praise of Liberty’. And found beneath the effigy were the following words: â€Å"He that takes this down is an enemy to his country.† The owner of the tree decided to take effigy down, however, after seeing the amount of people who gathered near the effigy, he abstained from his decision. It was because every single person that passed the effigy was required to get his articles stamped by it. 5. The crowd of thousands met up at their assigned place and took down the pageantry surrounding the effigy. They took the effigy along the main street, through Tilby Street and Oliver’s Dock, towards a newly built building which they thought to be an office for stamps and demolished it in half an hour. They burned the effigy with timber and set fire to several things like stables, coach houses etc. They demolished a summer house, broke its furniture along with an expensive looking

Lead me from untruth to truth, from darkness to light, death to life Essay

Lead me from untruth to truth, from darkness to light, death to life - Essay Example There are some people who live in eternal darkness and die in it. And there are some more privileged ones (by nature, or by some unknown destiny) who live in spaces and times brightly lit with noble emotions and lovely acts. But the greatest of all are those who overcome the darkness in their lives through self-realization and the will to act accordingly, because only they are capable of choosing their destiny. This is why this essay envisages to illustrate and prove that every human being, however immersed in darkness he/she is, has the potential to traverse the difficult path from darkness to light. Mathew has been my school mate and friend for two years but then suddenly he stopped coming to the school. When I tried to contact him, I felt he did not like that. I felt being looked upon by him as a nuisance whenever I went to meet him in his village town. Gradually, I gave up and went my way. He never returned to the school and then I heard that he was spending his nights away in ga mbling casinos in the nearby town with his step father, who had picked up a passion for this game and turned lucky. I also heard news that they were winning big money in the game. It was after three years that I saw him again. He had put on some weight. This time he was happy to see me and we spent an evening reminiscing our school days. I reminded him what a good athlete he was but he shrugged and said he did not regret leaving the studies and the school. It was visible that he had earned a lot of money. He was wearing a very expensive suit and fitting accessories including a Rolex watch and a Mont Blanc pen. But I pressed him to tell me whether he was continuing with his other two passions, painting and mountaineering. He told me he was not getting enough time for that. He told me also that every year he was earning more than the double of the previous year's income. On further talks, he revealed that his father had left his mother who disapproved of their gambling and that his gi rlfriend also left him as well. I asked him why he was chasing money as if there is nothing else in the world. He said, you people think that money is evil. But in this world, money can buy you anything. At that moment, I had to tell him that he was living in a world of illusion but he said it was my illusion (Plato, 1987, p.177). Though we had a nice evening that day, I felt he was moving towards the darker areas of human existence. And I could realize that he was already looking down on me as an unlucky guy who had yet to struggle his way up the ladder through the boring text books, projects and so on. Four years after that meeting, once again destiny brought us face to face with each other. I chanced upon him on a commuter train where I found him sitting engrossed in a book. I felt curious. After we exchanged greetings he suddenly became silent. Then he asked me, â€Å"Do you remember telling me that I was living in a world of illusion?† I nodded. He suddenly held my hands and said, â€Å"I have woke up from that world of illusion.† And he told me his story from where we left it four years back. On an evening that he realized his new girl friend was cheating on him in the game, he aimlessly strolled down the street. The girl had been collaborating with another man to help him win the game as she had developed an intimate relationship with that man without the knowledge of my friend. He was slightly depressed. The ugly face of truth that he had no real friends at all, was annoying him a little. Of late, he was loosing money in the game and those whom he thought as close to him were showing him a cold face. â€Å"How blind I have been to trust them,†

Acient art image discussion Essay Example | Topics and Well Written Essays - 500 words

Acient art image discussion - Essay Example The art has conspicuous grey and yellow colors. The art of the colors represents artistic painting reminiscent of Egyptians’ Minoan style (Gardner and Fred 90). All the painted figures have a representation of Mediterranean cultures. The paintings have a characterization of fluidity line, small waist and vitality of character. The Minoan style depicted in the art shows emphasize on spontaneity, elasticity, and dynamic motion. The high-contrasts patterns and the colors elaborate the freshness and elegance of the scene and its characters. Many features of civilization, such as writing and drawing, originated during the ancient Near East. Most communities were hunters and gatherers. The image, therefore, is from the ancient Near East. Art of the ancient Near East displays similarly great variety of forms and style that reflect the many individuals, kingdoms, cities and empires flourishing in the region for thousands of years. Making of this image happened about two thousand years ago. The image depicts the culture of the ancient Near East of a number of ways. Promotion of artistic work was primarily by spiritual, religious, and religious. The image was a major form of communication. Therefore, most of the ancient Near East communities were visually literate than reading words. They could easily read the inscribed words. Two women are featured in this image. The materials used as a part of the craft of the ancient Near East were deliberately selected with gimmicks, for example, color, and hardness as integral elements. Gold and silver were considered to have particular supernatural and apotropaic properties, as did the Lapis Lazuli and Carnelian stones. Valuable metals were referenced in legendary writing to pass on ideas and qualities connected with divinities, essentially in light of the fact that their color, sparkle, and splendor were regarded fitting for divine

Instructional strategies and approaches Essay Example for Free

Instructional strategies and approaches Essay Cognitive theories can be more easily applied, and changes and improvements can be more readily incorporated, as long as the teacher has had some specific training in knowing how students learn. For example, grading might be an inaccurate measurement of assessment of the efficacy of online education as it is not necessarily a true measurement of learning. Some students work hard to perfect their performance for a test at the end of the course, yet have learned very little. What is more important than simple measurements of right or wrong is to attempt, throughout the class, to see how each student is thinking. This can become apparent if a student is asked to explain his or her reasoning. The classroom is an environment that lends itself very well to written responses of explicit lines of reasoning. Once a student’s thinking becomes apparent in this way, the instructor can identify areas of prior knowledge and, should there be any misconceptions, can structure teaching in such a way as to correct them. Alternatively, if apparent thoughts of the students as written in discussions reveal a solid and correct prior knowledge in this arena, the teacher would be able to reinforce this and help students to expand their knowledge still further and to make more connections. Furthermore, during the semester, students should be encouraged to develop their thinking and in this way can identify which areas they feel less confident about, and for which they would like some extra help. We help students internalize and give the information automaticity by providing adequate opportunities for them to work with the process and by providing feedback often. Students need the time to practice an activity until it becomes automatic for them. if we didn’t practice math or if students had not been allowed to practice with their park rides designs, the results would not be of high quality. Students need both massed practice and practice over time before the process becomes internalized. Immersion is a great tool, but if we do not come back to the learning from time to time, often the learning is lost. That is why students may do well on the test this Friday over the math concepts studied this week, but try giving them a problem from this week’s work three weeks from now (Tileston, 2003). Reference: Tileston, D. D. E. W. (2003). What Every Teacher Should Know About Using Media and Technology. Thousan Oaks, California: Corwin Press.

The Flat Tax Essay -- Economics

The Flat Tax The â€Å"consumption tax† as a replacement for the income tax is at least a subject of noteworthy question and debate. It seems as though, the means in relation to the ends are not always justifiable, but when approached properly, can benefit all. To answer the question of whether a consumption tax should be applied, I examined both my morals and my ideas of capitalism and free enterprise in relation to democracy. Is it fair to establish a tax that rewards the already wealthy and pose a threat to the already shaky financial standing of the poor? No; but a system that rewards success is important. So what is the solution? As an American, I am infused with the spirit of capitalism. While this is a wonderful thing, we must carefully draw the line between the tendency of capitalism towards over individualism and over extended tax burden. The burden to which I refer is of course, largely progressive taxes. With a tax system that is overly progressive (such as the present law system) we risk removing the incentive to invest in America’s companies and also remove money from the pockets of would be employers. As I examine the opposing idea of a regressive tax system, with which I am equally at odds, I find it to be morally repugnant to punish the poor simply for their lower economic standing. With the notion that income tax is going to tend towards the progressive side in the U.S., I feel that repealing such a liability may be beneficial for the Americ...

Wealthy and Lower Socioeconomic Communities Differences

There exists an achievement gap among wealthy and lower socio economic communities. Students who come from schools within lower socioeconomic communities do not often receive the same education or services from wealthier districts. New Jersey has responded to this inequitable situation with the Abbot funding process. Recently two local communities, Long Branch and Neptune, have been threatened with the loss of their Abbott status; as a result of additional mandates from the federal No Child Left Behind Act, many such schools are being threatened with the loss of their funding if they fail to meet minimum academic achievement standards. To determine the impact of this potential loss, this paper will provide insights into local concerns in Long Branch to identify how this loss would affect the academic achievement gap. This discussion will be followed by a report on two areas where it is believed equity will be lost to the district. In their Abbott vs. Burke decision, the New Jersey Supreme Court mandated additional assistance for the state's 30 poorest districts, including Long Branch and Neptune (Quinn, 2003). According to an Asbury Park Press survey of enrollment data for Monmouth County found that minorities comprise the majority of the school population in Asbury Park, Red Bank, Neptune, Freehold, Long Branch and Lakewood; of these, the survey found that only Red Bank's poverty rate does not exceed the state's rate (Quinn, 2003). Furthermore, fully 20 percent of the Hispanic students in Monmouth County attend the Long Branch school system (Quinn, 2003). If the additional funding promised by the Abbott decision is halted or reduced, all of the low-income communities will undoubtedly experience further declines in the academic performance levels that are already precipitously low in many cases, with the thrust of this reduction in funding creating two fundamental problems: 1) adversely affect literary rates; and 2) further exacerbate the segregation of low-income and minority citizens into pockets of poverty. As to the first issue, Strickland and Alvermann (2004) reviewed the issues concerning the achievement gap in the U. S. and found that literacy demands of the middle grades are exacerbated when the students come from low income and minority homes; in particular, these issues assumed critical levels when the students are members of low-income and minority families. These students are already likely to attend schools characterized by high mobility rates, inadequate resources and facilities, and large numbers of young students with challenging learning needs (Strickland & Alvermann, 2004). Comparable trends are also apparent in the State of New Jersey as well. According to Lattimer and Strickland (2004), the results from the Grade Eight Proficiency Assessment (GEPA) from 2000-2002 identified consistent differences in partially proficient, proficient, and advanced proficient between District Factor Groups (DFG's) and race/ethnicity. In addition, the differences in academic achievement between special needs districts such as Long Branch and non-special needs districts found similar trends to the 2002 GEPA (Lattimer & Strickland, 2004). In fact, a 35-percentage point difference existed in the total number of students scoring proficient and advanced proficient in Language Arts Literacy in 2002; the authors point out that the District Factor Group is an indicator of the socioeconomic status of citizens in each district and has been useful for the comparative reporting of test results from New Jersey's statewide testing programs in the past (Lattimer & Strickland, 2004). Concerning the second issue of further segregating low-income and minority citizens into â€Å"pockets of poverty,† the school superintendent for Long Branch reported that although minorities tend to live in segregated communities, this was the result of a â€Å"social trend† rather than segregation; notwithstanding these assertions, though, these high concentration of low-income minority members in their own communities has created â€Å"have† and â€Å"have-not† districts, with the Long Branch district representing one of the hardest-hit in the state (Quinn, 2003). Clearly, if the Abbott funding is halted, parents will be faced with a dual-edged dilemma of being unable to provide their children with an adequate education by virtue of substandard schools while being forced to remain in these low-income districts out of sheer necessity. The people of New Jersey in general and the citizens of these low-income regions deserve the quality education that is their American birthright; unfortunately, the promise has not lived up to its legacy in many of these cities, and Long Branch continues to be threatened with even more academic and social miseries if its Abbott funding is stopped.

History Of The Banks Of Italy Finance Essay - Free Essay Example

Sample details Pages: 9 Words: 2804 Downloads: 2 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Did you like this example? The bank of Italy was formed in 1983 as part of a reorganization of Italys banks of issue. In 1926 the essentially public position of the bank was accorded significant recognition, as it became the sole institution authorized to issue banknotes. It was given power of banking supervision that would be strengthened by the 1936 Banking Law, which also formally recognized the banks status as a public law institution. Don’t waste time! Our writers will create an original "History Of The Banks Of Italy Finance Essay" essay for you Create order This remained the fundamental legislation on Italian banking until 1993, when the consolidated law on banking, still in effect, was enacted. A crucial passage in the history of the bank was the stabilization of the lira in 1947. The postwar surge of inflation was broken and the monetary conditions for the economic miracle of the 1950s were established. The constitution of 1948 enshrined the principle of the protection of saving. The re-establishment of the stability of the currency and the start made on the adjustment of the public finances enabled Italy to comply with the standards set by the Treaty of Maastricht (1992) and qualify for the lead group of countries adopting the euro as their currency in 1999. Euro banknotes and coins went into circulation in 2002. MAIN ACTIVITES: Monetary policy Objectives and Strategy The euro system is responsible for the single monetary policy of the euro area. The primary objective of the euro systems monetary policy is to maintain price stability in the European area. Without this objective, the euro system supports the economic policies in the European society with a view to contributing, among other things, to the achievement of a high level of employment. Among its other tasks, it also contributes to the maintenance of financial stability in the euro area. Monetary policy decisions are taken by the Governing Council of the European Central Bank and mainly consist of setting the key interest rates. The ECB has quantified the definition of price stability as a year on year increase in the Harmonized Index of the Consumer Prices for the European area of below but close to 2% in the medium term. Quantifying the definition of price stability also contributes to a further aspect of the ECBs monetary policy strategy: by increasing the transparency of monetary poli cy and providing a reference framework which is easy understand. The ECB bases its monetary policy decision on two complementary analytical perspectives: economic analysis mainly serves as a means of cross-checking, from a medium term to long term perspective, the short term to medium term indicators stemming from the economic analysis. The ECB pays considerable attention to communicating its assessments by means of official statements or regular publications, such as the monthly Bulletin and the Annual Report. Implementation of monetary policy The implementation of monetary policy is entrusted to the executive board of the ECB in accordance with the decisions and guidelines adopted by the governing council. The euro system has a number of monetary policy instruments at its disposal in order to achieve its objectives. It conducts open market operations, offers standing facilities and requires credit institution to hold minimum reserves on accounts with the euro system. In accordance with the principles of operational decentralization and subsidiary established at the European level, the monetary policy operations are carried out by the euro system. Payment System ECB state that one of the basic tasks of the ECB is to promote the smooth operation of payment system, an objective which is jointly pursued by the ECB. The consolidated banking law is the primary point of reference. It formally recognizes the competence of the bank of Italy in the field of payment systems. The euro system promotes the efficiency, stability and security of payment systems through various measures, which include providing payment services, acting as a catalyst for the cooperation between payment systems operators and carrying out standard setting, regulatory and oversight activities in the context of its supervisory function. Banknotes and Coins On 1 January 2002, the euro banknotes and coins entered into circulation in the twelve countries then participating in the European area (Belgium, Germany, Ireland, Greece, Spain, France, Italy, Luxembourg, Netherlands, Austria, Portugal and Finland) replacing the national currencies of those countries. The euro coins and notes are issued by the European countries. Different categories of banks: There are about 7 categories of banks. Retail banks Commercial banks Investment banks Central bank Credit unions Online banks Savings and Loans banks How many banks operate in Italy? Central bank Banca dItalia Major Banks UniCredit Intesa Sanpaolo Mediobanca Monte dei Paschi di Sinea UBI Banca Banco Popolare Banca Nazionale del Lavoro Local banks Banco Desio Banco di Sardegna Banca Popolare di Milano Banca Popolare dellAlto Adige Banca Popolare dellEmilia Romagna Banca Popolare di Sondrio Banca CR Firenze Banca Carige Banca Generali Credito Emiliano Credito Bergamasco Credito Valtellinese List of All Banks/ Italy Banca della Marche www.bancamarche.it Banca di Credito di Trieste www.nbctkb.it Banca di Roma www.bancaroma.it Banca Nazionale del Lavoro S.p.A www.bnl.it Banca Passadore e C. S.p.A www.passbanca.it Banca Popolare dellEtruria e del Lazio www.bpel.com Banca Popolare di Bergamo www.bpb.it Capitalia Banking Group www.capitalia.it Intesa Sanpaolo www.intesasanpolo.com La Banca Commerciale Italiana www.bci.it UniCredit Group www.unicreditgroup.eu Banca Carime www.craime.it Banca dItalia Standard activities Banks act as an agent by conducting checking or current accounts for customers, paying cheques drawn by customers on the bank, and collecting cheques deposited to customer accounts. Banks also enable customer payment via other payment methods such as debit card, credit card, ATM and telegraphic transfer. Banks borrow money by accepting cheques deposited on accounts, by accepting term deposits, and by issuing securities such as banknotes and bonds. Banks lend money by making advances to customer on current accounts, by making conditional loans, and by investing in marketable debt securities, government securities and other forms of money lending. Banks provide many payment services as on conditional bases and a bank account is considered independently by most business, individuals, public sectors and governments. Non-banks that provide payment services such as substitute for having a bank account. Banks borrow most funds from customers accounts, households business and non-financial b usinesses, and lend most funds to households usage and non-financial purposes and many customer who need money, but non-banks provide a significant money in many conditions and in many cases substitute for banks loans, government, public sectors, money market funds and people who need money for personal use. The Role of the Central Bank: They collect of papers, published in April 2002, were presented at the workshop the role of the central credit register in credit management: experience and outlook held at S.A.Di.Ba., the bank of Italys training and conference facility, on 9 April 2002 to promote discussions on the quality of the service offered to the whole of the financial system. The papers examine the function of the central credit register as public information system and look at possible lines of development, including in the light of trends set in motion by the Basel capital account. After the change of exchange rate, monetary and financial policies was established in 1998 to the European central bank, within the European institutional framework, the bank implements the decisions, issues euro banknotes and with draws and destroys wrong and rough pieces. The main function has become banking, monitoring and financial supervision. The objective is to ensure the stability and efficiency of the system, rules and r egulation and order to obey rules and regulations; the bank pursues it through arbitrator, secondary legislation, controls and cooperation with public sector and government authority. Improvement in 2005, which was promoted by takeover scandals, the bank has lost supervisory and exclusive authority in the credit department, which is now shared with Italys authority. Also many functions include like, market supervision, economic analysis, credit conditions and state treasury services and payment methods. Bank of Italy gold reserves are 2451.8 tones (2006). Lowest interest rate encourage borrowing money from banks in Italy. From 2000 to 2003, the federal funds rate target. This was done by softly good effect on economy and the terrorist attack on September 2001 increase risk of deflation in economy. This created demand for different kinds of financial assets, increasing the price of these assets while lowest interest rate. Foreign investors had those funds lend to customers, either be cause they have high rate of interest in Italy because of fluctuation in oil prices in international market. Raise in the fed fund rates between July 2004 and July 2006. These contribute to increase in mortgage rate and pledge rate in country between 1 to 5 years. This also includes increasing deflation in housing finance. Assets prices move generally inverse to interest rate in economy. Banking Risk or Crisis: The financial crisis of 2007 to the present was triggered by a shortfall in United State banking system effect on economy of Italy. It has resulted in the failure of large financial sectors, the bailout of banks by Italy governments, fall in stock markets in Italy. In many areas of Italy, the housing market has also suffered because of various affects in economy of Italy. It involved in the failure of businesses in economy, decrease in consumer and customer wealth, substantial financial commitments incurred by governments, and a significant decline in economic activity. Many causes have been suggested, with varying weight assigned by experts. Both market and monetary policy and regulatory solutions have been implementing under Italy laws and regulation. The failure of house building finance, which peaked in economy of Italy. Those are caused by the value of securities to real assets in Italy. They caused bank solvency, decrease in credit availability and damage investor confidence on global market, where securities suffered huge losses during late 2008 and 2009 because economy trade fall down in world wide. Investor confidence falls down on government and public securities, monetary and financial policy. Risk and Capital Banks face many kinds of risks in conduct of business, how to control the risk and capital in profitable manners. Some main kinds of risk face by those banks. Credit risk Liquidity risk Market risk Operational risk Customer loans Lower earnings growth Retail network Credit risk: Risk of loss arising from a borrower who does not makes payments as promised. Or delay for certain time periods. Liquidity risk: Risk that a given security or assets cannot be trade quickly and not use as soft money in market terms and conditions. Market risk: Risk that the value of a portfolio, either an investment portfolio or a trading portfolio, will decrease due to the change in value of the market risk factors. Operational risk: Risk arising from execution of a companys business functions. Italian banks face higher borrowing costs as concern over the nations debt, the second-highest in the euro zone. The cost of insuring the debt of UniCredit SpA, Italys biggest bank, posted the largest monthly jump in November since February 2009, according to data provider CMA. UniCredits credit default swaps this week implied a junk rating to the companys bonds for the first time, data from Moodys Investors Services capital markets research group show. Swaps on Intesa Sanpaolo SpA, Prime Minister Silvio Berlusconi faces a confidence vote on Dec. 14, adding to investor concern that Italy may struggle to finance its 1.76 trillion euros ($2.3 trillion) of debt should his government fall. While Italian banks skirted the real estate busts of Ireland and Spain, the crisis may drive up the cost of refinancing at least 118 billion Euros of debt in 2011 and squeeze profitability that is already below the regions average. Customer loans Italian banks survived the worst crises in 70 by years by lending to individuals, public sectors, government sector and corporate clients steering away from bets on markets, analysts. About 61 percent of their assets are loans to clients, higher than others countries banks, according to data compiled by ABI, Italys banking association. The countrys lenders also weight less on the economy than banks in other European countries. Italian banks senior debt represents about 20 percent of the gross domestic product, analysts at Barclays in a note published on Nov. 26. Irish bank debt is equal to about 38 percent of GDP and the debt of Spains banks is 54 percent of GDP, according to Barclays. The strength of banking system in Italy is the lowest interest rate profitability. Italy banks are in good shape, but their outlook is disturbed to the economy. Lower earnings growth Credit-default pay the buyer face value in exchange for the underlying securities or the cash equivalent should a borrower fail to pay its debt agreements. A basic point on a contract protecting $10 million of debt from default for five years is equivalent to $1,000 a year. Higher cost of funding, lower fees and lower future loan growth will lead to lower earnings growth. The possible implementation of austerity measures to reduce public debt could delay the expected anemic recovery and then affect banks profitability. Retail network The retail branch network is a stable and reliable source of funding, Intesa Chief Executive Officer Corrado Passera. Italys budget shortfall in 2009 reached 5.3 percent of gross domestic product and the debt is running at 116 percent of GDP, second only to Greece. Italys 2011 budget plan includes cuts totaling 13 billion euros to trim the deficit. Intesa has the highest net exposure to bonds of Portugal, Italy, Ireland, Greece and Spain among the southern European banks, totaling 65.1 billion euros, according to Bernstein. Types of Risk Management: Commercial enterprises apply various forms of risk management procedures to handle different risks because they face a variety of risks while carrying out their business operations. Effective handling of risk ensures the successful growth of an organization. Various types of risk management can be categorized into the following: Operational risk management: Operational risk management deals with technical failures and human errors Financial risk management: Financial risk management handles non-payment of clients and increased rate of interest. Market risk management: Deals with different types of market risk, such as interest rate risk, equity risk, commodity risk, and currency risk. Credit risk management: Deals with the risk related to the probability of nonpayment from the debtors. Quantitative risk management: In quantitative risk management, an effort is carried out to numerically ascertain the possibilities of the different adverse financial circumstances to handle the degree of loss that might occur from those circumstances. Commodity risk management: Handles different types of commodity risks, such as price risk, political risk, quantity risk and cost risk. Bank risk management: Deals with the handling of different types of risks faced by the banks, for example, market risk, credit risk, liquidity risk, legal risk, operational risk and reputational risk Nonprofit risk management: This is a process where risk management companies offer risk management services on a non-profit seeking basis. Currency risk management: Deals with changes in currency prices due to different reasons Enterprise risk management: Handles the risks faced by enterprises in accomplishing their goals. Project risk management: Deals with particular risks associated with the undertaking of a project Integrated risk management: Integrated risk management refers to integrating risk data into the strategic decision making of a company and taking decisions, which take into account the set risk tolerance degrees of a department. Technology risk management: It is the process of managing the risks associated with implementation of new technology Software risk management: Deals with different types of risks associated with implementation of new softwares. Types of risk management Financial Risk Management Operational Risk Management Project Risk Management Risk Management and Insurance Credit Risk Management Market Risk Management Quantitative Risk Management Technology Risk Management Integrated Risk Management Nonprofit Risk Management Bank Risk Management Commodity Risk Management Currency Risk Management Software Risk Management Enterprise Risk Management Implementation of ERM Program Own Banking Institution Credit and financial institutions This circular contains the instructions for producing and sending the reports that supervised intermediaries are required to transmit to the Bank of Italy. It is divided into three parts. The first part contains a common set of administrative and technical and operating instructions for banks and other financial institutions, while the second and third contain the reporting formats and information coding instructions respectively for banks and other financial intermediaries. In particular, Circular 154 governs the following information flows: banks supervisory reports (see Manual for preparing supervisory returns); banks consolidated supervisory reports (see Instructions for preparing banks supervisory reports on a consolidated basis); statistical and supervisory reports on securities intermediation (see Manuale delle Segnalazioni statistiche e di vigilanza per gli Intermediari del Mercato Mobiliare ); statistical supervisory reports of financial intermediaries referred to in Article 107 of Legislative Decree 385/1993 (see Manuale per la compilazione delle Segnalazioni di Vigilanza per gli Intermediari Finanziari iscritti nellElenco Speciale ); statistical and supervisory reports of collective investment undertakings (see Manuale delle Segnalazioni Statistiche e di Vigilanza per gli Organismi di Investimento Collettivo del Risparmio)